Powered by: Motilal Oswal
2024-12-31 08:57:37 am | Source: Kedia Advisory
BUY USDINR JAN @ 85.75 SL 85.65 TGT 85.85-85.95 - Kedia Advisory
News By Tags | #KediaAdvisory #CurrencyTips
BUY USDINR JAN @ 85.75 SL 85.65 TGT 85.85-85.95 - Kedia Advisory

USDINR

Observations

USDINR trading range for the day is 85.61-85.93.

Rupee remained in range pressured by a spike in dollar demand while strong intervention by RBI helped to pare its losses.

India's current account gap narrows to 1.2% of GDP in July-Sept, central bank says

India's merchandise trade deficit widened to $75.3 billion during July-September, from $64.5 billion in the year-ago period.

BUY USDINR JAN @ 85.75 SL 85.65 TGT 85.85-85.95.

 

EURINR

Observations

EURINR trading range for the day is 89.28-89.86.

Euro remained in range as Spanish inflation data fueled expectations of gradual ECB rate cuts.

Spain’s consumer prices rose 2.8% year-on-year in December, up from 2.4% in November.

ECB does not need to keep interest rates at a restrictive level, which curbs the economy, when inflation momentum is at 2%

SELL EURINR JAN @ 89.65 SL 89.85 TGT 89.45-89.25.

 

GBPINR

Observations

GBPINR trading range for the day is 107.56-108.24.

GBP remained steadied as investors scaled back positions amid uncertainty about monetary policy for the coming year

UK wage growth accelerated in the three months to October and inflation rose to 2.6% in November

The UK economy showed signs of strain, with GDP flat lining in the third quarter

SELL GBPINR JAN @ 108.1 SL 108.3 TGT 107.8-107.6.

 

JPYINR

Observations

JPYINR trading range for the day is 54.32-55. 

JPY steadied as investors assessed the Bank of Japan's interest rate outlook.

BOJ policymakers discussed the possibility of raising interest rates in the near future, with some arguing that conditions were ripe for such a move.

The au Jibun Bank Japan Manufacturing PMI stood at 49.6 in December 2024, slightly above the flash estimate of 49.5.

BUY JPYINR JAN @ 54.5 SL 54.3 TGT 54.7-5490.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here